A staggering $150 million XRP theft from Ripple co-founder Chris Larsen’s wallet has been linked to a security breach at LastPass, a popular password manager. The breach, which occurred in 2022, saw hackers steal source code and technical data by compromising a developer’s account. They later infiltrated a cloud storage system, stealing encrypted customer password vaults and unencrypted metadata for an estimated 25 million users. Although the vaults were encrypted, weak or reused master passwords could be brute-forced, exposing stored data. Hackers exploited this vulnerability, accessing Larsen’s private keys and siphoning off the XRP, valued at $150 million at the time of the theft and over $600 million as of recent prices. The fallout from the LastPass hack has been extensive, with crypto losses connected to the breach estimated to be at least $250 million as of May 2024.
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